Determining Reasonable Salary Amounts for S Corp Owners
Determining a reasonable salary for an S Corporation shareholder is crucial for compliance and avoiding potential IRS scrutiny. When actively involved in managing an S Corporation, shareholders must ensure their compensation genuinely reflects the value of their services. Distributing profits without appropriate compensation can invite audits, potentially leading to distributions being reclassified as wages and […]
Fraud Friday 3/14/25: Segregation of Duties
Segregation of Duties Most business owners don’t want to believe it, but every organization has some level of fraud that occurs. According to the Association of Certified Fraud Examiners (ACFE) Report to the Nations 2024, 89% of frauds are related to asset misappropriation (e.g., theft). One thing I notice when I work with clients is […]